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    1699 Wall St Mount Prospect, IL 60056

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    For Lease
    Contact for pricing

    Class A Office Suites, Prime Location

    Lot size:
    171,760 SF

    Property Features for 1699 Wall St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    171,760 SF
    Class
    A
    Total Rate
    143133.33

    Building Details

    Year Built/Renovated
    1981/2023
    Buildings
    1
    Stories
    7

    Spaces For Lease

    at 1699 Wall St, Mount Prospect, IL 60056 Contact us
    Unit 200E

    $14 /Mo

    Size
    176 SF
    Contact us
    Unit 201F

    $14 /Mo

    Size
    194 SF
    Contact us
    Unit 620

    $14 /Mo

    Size
    142 SF
    Contact us
    Unit 406

    $14 /Mo

    Size
    1,025 SF
    Contact us
    Unit 550C

    $14 /Mo

    Size
    350 SF
    Contact us
    Unit 200M

    $14 /Mo

    Size
    187 SF
    Contact us
    Unit 201L

    $14 /Mo

    Size
    130 SF
    Contact us
    Unit 215

    $14 /Mo

    Size
    2,427 SF
    Contact us
    Unit 425

    $14 /Mo

    Size
    2,776 SF
    Contact us
    Unit 518

    $14 /Mo

    Size
    3,038 SF
    Contact us
    Unit 201G

    $14 /Mo

    Size
    170 SF
    Contact us
    Unit 610

    $14 /Mo

    Size
    3,699 SF
    Contact us
    Unit 200-A

    $16 /Mo

    Size
    772 SF
    Contact us
    Unit 200K

    $16 /Mo

    Size
    651 SF
    Contact us
    Unit 201M

    $16 /Mo

    Size
    185 SF
    Contact us
    Unit 209

    $16 /Mo

    Size
    913 SF
    Contact us
    Unit 215

    $16 /Mo

    Size
    2,427 SF
    Contact us
    Unit 220

    $16 /Mo

    Size
    1,096 SF
    Contact us
    Unit 335

    $16 /Mo

    Size
    9,687 SF
    Contact us
    Unit 337

    $16 /Mo

    Size
    739 SF
    Contact us
    Unit 350

    $16 /Mo

    Size
    3,535 SF
    Contact us
    Unit 418

    $16 /Mo

    Size
    756 SF
    Contact us
    Unit 425

    $16 /Mo

    Size
    2,776 SF
    Contact us
    Unit 520

    $16 /Mo

    Size
    1,335 SF
    Contact us
    Unit 550-L

    $16 /Mo

    Size
    181 SF
    Contact us
    Unit 550-N

    $16 /Mo

    Size
    155 SF
    Contact us
    Unit 550-P

    $16 /Mo

    Size
    158 SF
    Contact us
    Unit 550-Q

    $16 /Mo

    Size
    173 SF
    Contact us
    Unit 700

    $16 /Mo

    Size
    8,674 SF
    Contact us
    Unit 725

    $16 /Mo

    Size
    3,529 SF
    Contact us
    Unit 1

    $10 /Mo

    Size
    1,761 SF
    Contact us
    Unit LL CR

    $12 /Mo

    Size
    638 SF
    Contact us
    Unit 100

    $16 /Mo

    Size
    1,021 SF
    Contact us
    Unit 119A

    $22 /Mo

    Size
    340 SF
    Contact us
    Unit 124

    $18 /Mo

    Size
    412 SF
    Contact us
    Unit 201G

    $16 /Mo

    Size
    170 SF
    Contact us
    Unit 102

    $16 /Mo

    Size
    1,114 SF
    Contact us
    Unit 400

    $16 /Mo

    Size
    1,518 SF
    Contact us
    Unit 401

    $16 /Mo

    Size
    1,653 SF
    Contact us
    Unit 517

    $16 /Mo

    Size
    1,167 SF
    Contact us
    Unit 610

    $16 /Mo

    Size
    3,699 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Theron May
    Theron May

    Listing Agent: Theron May

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lake Center Corporate Park, located at 1699 Wall St, Mt. Prospect, IL 60056, offers 171,760 square feet of premium office space in a seven-story Class A building. Built in 1981 and extensively renovated in 2023, this property boasts 14,000 square feet of immediately available space, with a total of 41 individual suites ranging from 130 to 9,687 square feet. The building features multiple tenancy options, including executive, coworking, medical, creative, and traditional office spaces. Amenities include abundant parking, on-site management, five-day janitorial service, HVAC, a fiber network, a conference facility, and on-site storage. A new restaurant is also conveniently located within the complex. Enjoy unobstructed views and a prime location just minutes from the Northwest O'Hare Airport Corridor, providing easy access to Chicago and the Northwest Suburbs. The property sits on eight acres of land and is conveniently located a quarter-mile north of the Elmhurst Road interchange on the Northwest Tollway (I-90), situated on Elmhurst Road (IL-83) between Dempster and Oakton. Numerous restaurants are within close proximity. Mt. Prospect offers a vibrant and newly renovated downtown area, featuring updated building facades, brick-paved streetscapes, and attractive landscaping. The city has received an A+ rating from Niche.com, ranking #68 in best places to live in Illinois. Elevators are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Edward Jones - Financial ... Financial Advisor American Escrow & Closing ... Corporate Office Heil & Kay Insurance ... Insurance Agency Brongus IT Consulting Firm CHICAGO INSTITUTE FOR RATIONAL-EMOTIVE ... Charitable Organization

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Prospect
    County
    Cook
    State
    Illinois
    Longitude
    -87.942882483917
    Latitude
    42.034576149961

    Nearby Similar for Lease

    • $24 SF/Yr

      Renovated Office Space in Prospect

      Multi-tenant building with excellent exposure in downtown Mount Prospect.
      325 W Prospect Ave, Mount Prospect, IL 60056
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      966,633 SF

      Randhurst Village Retail Center

      Prime Mount Prospect Retail Space Available
      0 Rand Rd & Elmhurst Rd, Mount Prospect, IL 60056
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      23,257 SF

      Mount Prospect Office Space Available

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      1660 Feehanville Dr, Mount Prospect, IL 60056
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    • $18 SF/Yr
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      Brentwood Square Retail Space

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      1714 Kensington Rd, Mount Prospect, IL 60056
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      4,182 SF

      Retail Space in Mount Prospect

      Retail space available in a busy Mount Prospect shopping center.
      1000-1080 S Elmhurst Rd, Mount Prospect, IL 60056
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    • Contact for pricing
      1,908 SF

      Retail Space at Signalized Intersection

      Retail space with high visibility and strong demographics in Mount Prospect.
      1002-1070 S Elmhurst Rd, Mount Prospect, IL 60056
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    • Contact for pricing
      318,693 SF

      Randhurst Village Retail Space

      Prime Mount Prospect Retail Power Center
      0 Rand & Elmhurst Rd, Mount Prospect, IL 60056
      View Details
    • $14 SF/Yr
      14,055 SF

      Mount Prospect Office Space Available

      Newly renovated, flexible office suites.
      1100 Northwest Hwy, Mount Prospect, IL 60056
      View Details
    • Contact for pricing
      2,888 SF

      Retail Space in Randhurst Village

      Redeveloped mixed-use center with retail, cinema, office, and hotel.
      220 Randhurst Village Dr, Mt Prospect, IL
      View Details
    • Contact for pricing
      5,004 SF

      Mount Prospect Retail Space Available

      Retail space in a grocery and soft-goods anchored shopping center.
      940-1100 E Rand Rd, Mount Prospect, IL 60056
      View Details
    • Contact for pricing
      10,902 SF

      Mount Prospect Warehouse Space Available

      10,902 SF warehouse space with air conditioning for lease.
      2200 S Busse Rd, Mount Prospect, IL 60056
      View Details
    • $23 SF/Yr
      89,000 SF

      Kensington Office Plaza: Mt. Prospect

      Class A Office Suites Available
      1661 Feehanville Dr, Mount Prospect, IL 60056
      View Details

    FAQs

    What type of property is this?
    Office space - Class A Office Suites, Prime Location
    Where is this office space located?
    The property is located at 1699 Wall St Mount Prospect, IL.
    What is the lease rate?
    The lease rate is $10-$22 SF/Yr.
    What are key features of this property?
    This property features: On-site cafeteria.; Conference rooms available.; Storage space included.
    (773) 736-6461 Call to check price and availability
    Request Owner's contact information
    1699 Wall St Mount Prospect, IL 60056
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    Mount Prospect, IL 60056
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1699 Wall St Mount Prospect, IL 60056
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    Contact for Pricing
    Please call us for current price
    and status of this listing Theron May
    Theron May
    Real Estate License ID: 471019986
    (773) 736-6461
    Learn more
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